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Lightbridge Corporation Lightbridge Provides Business Update and Reports Financial Results for the First Quarter of 2017

May 15, 2017

Lightbridge Corporation (NASDAQ:LTBR), a U.S. nuclear fuel technology company, provided a business update and reported financial results for the first quarter ended March 31, 2017.

Seth Grae, President & Chief Executive Officer of Lightbridge Corporation, commented, "We continue to progress towards commercialization of our proprietary next generation nuclear fuel for current and future reactors. We are advancing towards the creation of a formal joint venture agreement with AREVA to develop, manufacture and commercialize fuel assemblies based on our fuel technology, which we expect to finalize in the coming months. We believe AREVA is the ideal partner, bringing its leading expertise in nuclear fuel assembly design, licensing and fabrication, as well as an established global customer base."

"At the same time, we are advancing our discussions with a leading U.S. nuclear utility toward an end-user agreement for the first use of Lightbridge-designed nuclear fuel in a commercial reactor in the United States. Also, we remain on track for irradiation testing of our nuclear fuel samples at the Halden reactor in Norway."

"Given our recent partnerships, along with other support we have received from the industry, we expect that our nuclear fuel technology has the potential to generate hundreds of millions of dollars in annual profits. We believe that nuclear power, generated in existing and future reactors utilizing our advanced metallic fuel technology, will dramatically improve the safety and enhance the operating economics of nuclear power."